Texas HB4134 allows a convenience fee for processing electronic payments for motor vehicles.

HB4134 amends the Texas Finance Code to permit a convenience fee for processing electronic payments for motor vehicles. The fee can be collected by the holder of a retail installment contract or their agent, provided it is reasonably related to the processing expense, does not exceed $10 or five percent of the payment amount, and certain conditions are met. These conditions include allowing the buyer to make a payment by a method that does not incur a fee, not establishing electronic payment as the expected form of payment, and informing the buyer of the fee amount and alternative payment.

Texas HB4134 allows a convenience fee for processing electronic payments for motor vehicles.

HB4134 amends the Texas Finance Code to permit a convenience fee for processing electronic payments for motor vehicles. The fee can be collected by the holder of a retail installment contract or their agent, provided it is reasonably related to the processing expense, does not exceed $10 or five percent of the payment amount, and certain conditions are met. These conditions include allowing the buyer to make a payment by a method that does not incur a fee, not establishing electronic payment as the expected form of payment, and informing the buyer of the fee amount and alternative payment.